stuart: connell mcshane, yours. connell: we are dealing with important topics today, banks turning banks upside-down, the ins and outs of the new rule named after fed chairman paul volcker. double or ruled in effect. another big story today would be the glass ceiling shattered in the auto sector.f general motor and what she may bring to the table. more snow this winter, these cold snaps have an economic impact especially in the heartland. details coming up and the handshake that has managed to make headlines this morning. could this moment between president obama and the leader of cuba lead to something bigger in economic relations between the two countries? we will talk about that and more as we get going on markets now. ♪ good to have you with us on

markets now and we have a lot coming up. we have big issues in a few minutes, we start with stocks and the markets pulling back a little bit from record highs that were set yesterday hanging above 16,000 on the dow. nicole petallides on the floor of the stock exchange. nicole: the dow jones industrials pulling back, 16,008 holding at 16,000 mark to the s&p holding 18 under market, a record close for the s&p 500, down two points, squeezing out a gain in the ticketing nasdaq, worth noting the s&p is coming off of its 49 food record high, a stellar year for stocks and we are seeing stocks on track to break two session win streak. named leading the dow include goldman sachs, jpmorgan, chief financials doing well on the heels of what we heard from the volcker rule, that was a

unanimous vote and microsoft, pfizer and coca-cola weigh in on the dow jones industrials. connell: you talked-about the fdic vote on the volcker rule and that is the story, the first of five regulators voting on the new rule and we go from wall street to washington with the details on all this. peter barnes in d.c.. peter: five years in the making, a lot of back and forth and battling between government agencies and banks but five federal agencies are voting today to finally approve the volcker rule on 900 pages. as part of dodd-frank financial reform named for its biggest advocate, fed chairman paul volcker, designed to prevent the future financial crisis and future taxpayer bailout. the measure will prohibit banks from making risky financial bets for their own profit, proprietary trading. will prohibit banks from private equity funds but it exempts legitimate marketmaking in many types of securities, allows

trading up, and allows some hedging activities. the requires c e as to reasonably attests to complying with this and to have internal supervision and oversight in place. it would cover banks with assets of $50 billion or more and they would have until july of 2015 for more. the rule is designed to be tough but flexible. >> the effectiveness of the rule would depend importantly on supervisors who need to find the appropriate balance and providing feedback to the board on how it works in practice. >> critics worry though rule will raise costs for banks and their customers and may include loopholes. analysts say it could limit liquidity and financial markets and push activities into the regulated shadow banking system. other experts say lawsuits challenging the rule i coming. >> peter bond on wall street story out of washington and the

other big business story that we are covering for you today, the glass ceiling shattered in the auto sector. mary baron named as the new ceo of general motors' serving as senior vice president of global product development and made headlines in october when she told her staff that the key to gm's success and this was a quote from her, no more crappy cars at automobile magazine. >> that is what i like about her. that is about it. i know a lot about her. she started in general motors when i became an automotive journalist. was a student and has been all the way through it. she has of father at pontiac for 30 years and she has been all the key positions. her persona is like the perfect older sister, she is smart, and,

no nonsense, very midwest, kind of uaw centric. i think the world of her. connell: they're the conference call with the new ceo and we are covering it. you may see some headlines for those watching at home flashing from that call at the bottom of the screen. we said it and everyone is saying that, the, quote, glass ceiling has been broken, this is the first woman ceo at the floor of the major automaker. media people make too much of that and the credentials maybe get diminished but in this case it is appropriate. the auto sector. dagen: you cannot make too much of this. i get through this without weeping it will be a miracle. if you want to know how far general motors has come since the bottom fell out, they have just named the first woman ceo of a car company in history. there are no chief designers,

there are no -- to this point there has never been a chief in this way and it is incredible. is very well qualified. comes from a nice progression % from assistant to chairman to working on the shop floor and manufacturing, head of product development globally. it is incredible. i would say if i can say the only other person in the enthusiast magazine editor would want or think about is mark royce because he is the product guy and what it is about to me, there is an argument for keeping your product guy away from the conflicts that you have, the concessions you have to make at the top and letting someone else do that and make the partnership. connell: a good choice in your view. >> it is really good. she is a good chalets. she has to really, she gives

people are head. she needs to keep him close as the best product guy, she needs to keep bed clothes and let them have their heads as the guy who brought gm design out of the darkness. connell: almost sounds -- >> hearts can't break, cars can't break and cars can't break. connell: for yourself little bit, sounds like you thought was more important to get no woman president of the united states. at least putting words in your mouth, sounded like it was really big for you. >> absolutely future. i have seen strong women fall, walk out and say i am sick of it, sick of it. this is huge. we knew and dan mack person had this in him and we knew this was in his mind. this was a hell of a legacy for

him. connell: to hand the company over to the first woman ceo in history. jean jennings. >> she has teenage boys. she has been through the fire, not just gm but the boys. connell: forget car companies and quote is great, no more crappy cars. thank you very much. great perspective the, you covered the industry for so long. very excited today. world's leaders today attending this memorial service in the pouring rain at a soccer stadium for the former president of south africa nelson mandela and they fit 95,000 people in that soccer stadium in the johannesburg area. that has been a big story outside the united states with president barack obama care, for more on and all let's go there,

greg? >> it was cold, it was wet but it was moving. it was the biggest memorial of its kind in recent generations. 90 heads of stage and other figures caught -- joining tens of thousands of south africans despite the torrential rain marking the passing of nelson mandela. it all happened at the world cup soccer stadium in johannesburg. here is a little bit of what we saw and heard. >> is raining, windy and cold but the folks in the soccer stadium in johannesburg will not be stopped. this is the memorial for nelson mandela and the folks are going to stay and is going to be a celebration, it is going to be joyful. >> we are celebrating the life of an icon to let us out of

oppression. >> president obama was in attendance, and reconciliation obama shook the hand of the cuban president. recalls mandela a giant of history, backed by three former presidents, george w. bush, bill clinton and jimmy carter. it was a difficult day in a few ways, rain, wind and storms were so strong that the memorial was delayed by an hour. it kept the crowds down inside the stadium and security was really tight in big parts of the city that were shut down. tough for people to get around and those who came seemed to have a little patience for those who wanted to make political mileage out of this, south african president zillow was booed by the crowd, might have been taking a advantage of it, popularity was waning a bit.

connell: markets today, plenty more business news to talk about including the polk brothers's fourth quarter profits taking the 77% dive but as you see the stock managed to be forecast, people were expecting it and the snow continuing to fall in new york city and across the mid-atlantic so the latest forecast coming up on the big storm. all that straight ahead. will just under 98. every day we're working to be an even better company -

and to keep our commitments. eveand we've made a big to be commitment to america. - bp supports nearly 250,000 jobs here. through all of our energy operations, we invest more in the u.s. than any other place in the world. in fact, we've invested over $55 billion here in the last five years - making bp america's largest energy investor. our commitment has never been stronger.

connell: some weather coming your way including the trade which is weather-related but nicole petallides joins us from the stock exchange with a couple earnings movers. nicole: let's look at toll brothers which came out with their numbers, down fractionally, it had been higher earlier today, a more affluent customer base should be less

obviously when you look at mortgage rates sneaking up, a little more resilient to that is a good way to say it. talking about intense competition, down about 6% in a similar realm, we are watching autos zone, jumping to new highs where we see people using their air in cold weather and not getting the repairs done. names on the move slightly to the downside, and dow down 30 points. connell: achieve a high on all those headlines. the cold weather across the united states leading commodities traders on high alert as we wait for the kranick report. that is out at noon eastern, 45 minutes from now and sandra smith with the trade today. adam: different from the crop report, the world agriculture supply demand reports markets really count on 45 minutes away

from that report and the calm before the storm. at the cme where prices plunged corn, soybeans going into this report although traders are not ruling out the fact the we could see big market movers, global stocks expected to come in at 1 eighty million metrics, that would be up from the usda forecast, if you get bigger than expected numbers you can see the price continue to plunge. the risk of damage to the u.s. soybean crop has been a big concern. a lot of traders here saying what they are hearing is damage from cold snowy weather is limited right now so we are close to get these reports on grains today at noon eastern of a glut of supply in the grain market. we farmers continue to harvest record crops and that is affecting a lot of companies that you and i know, dominos, pinero bread, restaurant chains

have been very vocal that the drop in green prices helps boost the bottom line and 3 decrease costs, see real costs reported from the united nations are down 24% over the past year. that is having a big impact globally as well and here is that you to date change going into the forecast. corn prices down 40%, week 23%, these grains have been on the plunge. this crop report will be key for these traders to watch. corn, wheat and soybeans affect a lot of things every day. we will be watching get a little later on. connell: getting worked up behind you and stick with the weather effects for a moment today. we had plenty of snow but as you see behind me it has stopped for the moment in midtown manhattan picking up again later today but washington d.c. getting hit hard, the eastern seaboard in general, mario molina in the box with this and joins us with the

latest on the storm. >> i think one of the biggest impacts with this storm system is travel so we are seeing delay is averaging 94 minutes out of newark international airport, and and out of philadelphia, 200 minutes a day should be around four hours or so, pack the patients if you are heading to an airport to the northeast, and this across portions of delaware and maryland and philadelphia. and we have a battle right now so there is a break in snow that you can see pop up right about there. behind it expects more snow into new york city in southern new england dealing with snow fall at this hour. we have wind chill weather advisory across parts of kentucky all the way into parts of southeastern portions of new england. that is the where the worst

conditions will be today and higher snow fall accumulations, we expect three to six inches of snow-total snowfall accumulation in parts of west virginia, western maryland and the city of philadelphia and that is three to six inches of snow fall. those warnings were allowed to expire for d.c. and the city of baltimore. we think accumulations could be lower, closing to three inches for those cities and in new york city around two to four inches of total snowfall accumulation is what we were expecting. as we head into early this afternoon in d.c. and philadelphia should be over with, and in boston you could see three inches of snow falling your evening commute home. and lake effect snow picking up quite significant lake ontario and an inch of snow, expected out there and current windchill

temperatures vary frigid across the midwest. feels like 27 below 0 international falls, 20 below in the city of fargo. connell: fargo. thank you very much. enjoy the lull we are having in new york. greg was on from south africa. mentioned president obama at shook hands with raul castro. and it gives us a chance to talk about the economic ties or lack thereof between the united states and cuba and we will do that on markets now. the ceo and worker pay gap, big executives making over 1,000 times the hourly wage of their associates. we will get those new numbers put some more new numbers, a look at currencies today and how other currencies are faring against the dollar. we will be right back. ♪

hmm. mm-hmm. [ engine rev] ♪ [ male announcer ] oh what fun it is to ride. gethmercedes-benz on your wish list at the winter event going on now -- but hurry, the offers end december 31s [ santa ] ho, ho, ho! [ale announcer ] lease the 2014 ml350 for $599 a month at your local mercedes-bendealer.

>> thousands of gathering in south africa to honor the life of nelson mandela. among the scores of mortars over 94 in dignitaries including president obama and former presidents. w. bush, bill clinton and jimmy carter, president obama calling mandela, quote, a giant of history. a group of chemical weapons inspectors taking home the nobel peace prize. the organization for the prohibition of chemical weapons reseeding the honor for the stockpiles in syria. in addition to the award recipients get $1.2 million in prize money and the obama administration adding a new counselor to its payroll, joining the white house team during what is being called the tumultuous second term thanks in large part to the disastrous rollout of obamacare, a well respected democrat formerly served as bill clinton's chief of staff and those are your headlines.

connell: we will make some money with charles payne as he does each day. the updates a recent recommendation he made, recent recommendation, we talked about limber liquidators, back a day later to talk about it. charles: not making money today. if you caught me after the close we were, the company came out after the close at a conference. didn't realize they would do this but updated guidance for this year and next year. the stock is bloated to the upside, 7%, 8%, $110. it starts to pull back a little bit. the only thing that i saw that was some what may be disturbing was the fourth quarter they are looking at high end $0.72 a street, $0.73 but revenues right now significantly higher than where the street is, gross margins impressive, same-store sales better than expected, 15%,

even next year looking for absolutely phenomenal numbers, but i talked about this yesterday, some powerful shorts behind this thing and they are not letting go. stock big gave back most gains before the open and this morning the reiteration of a class-action lawsuit which comes with this stuff, with the environmental investigation. there was a reiteration of the short position and we had a massive reversal but i think stock is worth polling. connell: we talked last week about sometimes especially these new clients you get for your service may be upset with someone and talking about timing and they did at the wrong time and e-mail you and somebody watches and you should get a lot of credit, a lot of people like our kids do would prevent this never happened and you come back the next day what do you say to those people, it is getting hammered, stay in it? charles: if they had said next year will be a disaster, let's

lick our wounds and move on in this case is worth holding but the better part of the question is people coming to the market, it is a lot harder, valuations are up more than they were a year ago. the idea of the whole thing is to get a portfolio of stocks, not just one or two. most investors and some of our viewers picking out just one, have a portfolio, when you get hit on something you can handle it if the majority of your things are up you can sleep better at night but it happens. it really does and it is getting tougher because markets made a big move. connell: good luck sleeping tonight. good to follow up on something. charles payne. president obama, you know that line, he shook hands with the president of cuba, nelson mandela's memorial service in south africa. could it be more than a gesture? maybe it is no big deal but what if it is? we economic story on hand. before you head out on your next vacation we look at the best and

worst cities for travel taxes and your hint is this is not good news for the northeast and not good news for the northwest. some winners today and here they are on the s&p 500.

connell: we are back here on "markets now." here is what is still coming up for you in this hour. the president's handshake with raul castro. it was a gesture, but could it mean more? and the cash finance for

colleges, looking to the upcoming playoffs. some of the leaders of the big games this year and the worst cities when it comes to tax and travelers. before we get to any of that, we've been back nicole from the new york stock exchange. a number of executive shakeups today. nicole: walmart and lulu the lu. on the heels. both have down arrows. lululemon down fractionally. walmart down $0.60 at 79.36. walmart, the head of the canadian division will take over the retailer international units, so this is also running walmart europe, middle east and africa. walmart has had lagging profitability overall taking that february 1. lululemon now a new ceo therefore lululemon.

now succeed and take the top role. that will happen in january. connell: thank you very much. president obama shaking hands with the leader of cuba at that memorial for nelson mandela. over in south africa earlier today. is it a sign of any kind of potential relations between the two? the fact he took time to do that. joining us is "forbes" editor. we were already on the air. twitter started lighting it up, people cannot wait to get to their phones that they shook hands. my initial reaction and i think it is still my reaction, it is not that big of a deal. what with the president's other options? just greeting everybody that was up there. what could it mean? speak of the presidents are very scripted, the idea he would

shake hands with raul castro without its meaning something bigger might be somewhat of a reach. overall this is a great, great thing. cuba for the longest time has been the third and fourth grade power going back to the 1950s and '60s. the fact we have made cuba an enemy needlessly elevated a country and a person who did not deserve that kind of elevation. i think this is a positive step to bring them back into the fold. connell: i thought it was a reach, i was almost to do this segment to make a big deal out of this the end people are overreacting they shook hands and you think the opposite, which i think is interesting. you think it is a sign everything the president does it on purpose, and it is a good sign. so if that is reliant of thinking, what does this lead to? >> it is never easy to be an

isolated socialist country and particularly hard in the world we live in today where the rest of the world is passing. hopefully it means this is raul castro's way to say he is ready to do what his brother was never able to do, rejoin with the rest of the world. if so imagine what a great sign this is for the united states. they have been successful at becoming a big part of the economy. how fun to bring in cuban citizens to the integrated world economy working beside them, free trading with them all the things you get in a free economy. i hope it happens. connell: we think about iran and other things. what about if you up relations with cuba, even shaking hands. if he were to go further as you

suggest he might or should, that is a risky political move, isn't it? >> i see the point of those who criticized us, they say let's not shake hands with an evil regime, but my view has always been that when you demonize some of these second-rate dictatorships around the world, what you are doing, you are elevating them in the eyes of their own people. we are fighting the big bad united statess the better way to deal with these countries is to say we will talk to you, you are no threat to us to begin with three will talk about joining the globalq]eñ economy. you might as well join up with us. connell: is that just a little ahead of us ladies diplomate things work? >> maybe that is the way to do it, have somebody talk to the president of cuba and say we will not do a one-on-one.

we don't fear you, we want to bring you into the fold. it is when we demonize these people with somebody like fidel castro and we elevated somebody who did not deserve to be elevated. connell: give us a chance to talk about issues that are potentially at we don't talk about a whole lot. something a little different today, appreciate it. when it comes a gap between ceo pay and employee wages, something a lot about some companies are worse than others. making over 1000 times the hourly wage of their associates breaking $9000 per hour compared the estimated nearly $9 of their associates. they completed the list with the top five widest gap according to the personal finance site called

nerd wallet. again, we hear a lot about this as the story for years and years. the size of the gap is the story in this particular report that has come out. when saving for vacation you think of hotel and travel and food. what about taxes? discounting sales tax. portland, oregon, rent the worst but came to the amount of taxes paid. highest taxes for people on vacation according to the global business travel association of business or the managers may pay $22.86 just in taxes. boston and indianapolis in a close second and third. $18.10 respectively there. we have big money in college football. we are going to to the ceo of one of the big playoff games to

be and one of the big bowl games. another consequence of health reform. covering the nations volunteer fireman. why would they have to be covered under obamacare? and more on the new ceo of general motors which we talked about earlier. saying moments ago she was the unanimous choice. more details at the top of the hour as "markets now" continues. hi honey, did you get e toastecozy? yep. got all the cozies. [ grandma ] with n fedex one rate, i could ll a box and ship it r one flat rate. so i kn untilt was full. you'd be crazy not to. is tt nana? [ male announcer ] fedex one rate. simple, flat rate shipping with the reliability of fedex. tdd#: 1-888-852-213434 tjust waiting to be found. es tdd#: 1-888-852-2134 at schwab, we're here to help

tdd#: 1-888-852-2134 bring what inspires you tdd#: 1-888-852-2134 out there... in here. tdd#: 1-888-852-2134 out there, tdd#: 1-888-2-2134 there are stocks on the move. tdd#: 1-888-852-2134 in here, streetsmart edge has tdd#: 1-888-852-2134 chart pattern recognitio tdd#: 1-888-852-2134 whicshows you which ones are bullish or bearish. tdd#: 1-888-852-2134 now, earn 300 commission-free online trades. tdd#: 1-888-852-2134 call 1-888-852-2134 tdd#: 888-852-2134 or go to schwab.cotrading to learn how. tdd#: 1-888-852-2134 our trading specialists can tdd#: 1-88852-2134 help you set up your platform. tdd#: 1-888-852-2134 because when your tools look the way you want tdd#: 1-888-852-34 and work the way you think, you can trade at your best. tdd#: 1-888-852-2134 get it all with no trade minimum. tdd#: 1-888-2-2134 and only $8.95 a trade. tdd#: 1-888-852-2134 open an account and earn 300 commission-free online trades. tdd#: 1-888-2-2134 call 1-888-852-2134 to learn more. tdd#: 1-888-852-2134 so you can take charge tdd#: 1-888-852-2134 of your trading. try align. it's the number one ge recommended probiotic

that helps maintain digestive balance. ♪ stay in the groove with align. adam: i'm adam shapiro with your fax business brief. increasing slightly in november. the national federation of independent optimism index which gauges ember sentiment and outlook rose by nearly a point to 92.5, up from october 3091. small businesses said they anticipate increased access, regulations and health care cost ahead. inventories rose more than expected in october. the value of unsold goods in october rose 1.4%, more than expected three tenths of a percent increase. about september's revised 25.5% increase. expected jump in third-quarter profit.

an increase in demand for repairs. that is latest from the fox business network giving you the power to prosper.

connell: for college football fans, i know we have plenty who watch this show, this is the most wonderful time of the year getting ready for the bowl games. and they are big business. we're happy to be joined today by the man behind one of really the elite college bowl games, the chick-fil-a bowl. i say that, thank you very much. >> glad to be here. connell: it was no guarantee. we talk about how many bowl games there are. there was no guarantee you would be one of the elite. how did you make it happen? >> it is a commendation. having the georgia dome am a beautiful nfl stadium, that was

number one. number two, having chick-fil-a as a title sponsor was big because they're a great partner with us. we have been able to sell out 17 straight years. connell: so you get the biggest teams, you're guaranteed to have one of these in your game every year, but looking at the road to the playoffs, that is a good transition to talk about next year. a tremendous amount of interest in course that happens this year, but finally a playoff system. you are a part of it, so tell us how it works and what year you will be in on this. >> you will have six bowl in the system. two of them will host for my final games, one against number four, two against number three.

the national championship game will be bid out like a super bowl, so dallas will host it in 2014. and we're going to bed for the 2018 national championship game, the first time we can bid having our new $1.2 billion stadium in atlanta. that is where the falcons will play. now we talk about how much the teams make, they are worth x million dollars, how much you guys make, certain amount of money goes to charity as well, will that change, how did the financials compare this year? and the past years leading up to this year versus next year when the new system comes into play. >> next year we will have a guarantee from the commissioners, put on our game, we will have top 12 teams and those other bowl h do not host a

semi-finals. with a leading bowl of all bowl games with scholarships back. this year we will give $1.6 million profits we give back the community and scholarship. connell: do your numbers, could they go to next year because you'ryouare not part of the plad then go up a lot when you are? >> no, it will stay consistent. now i he negotiates deals with e title sponsor and with our tv contracted those are taken on by the college football playoffs. they have negotiated those, package those unsold those to espn for a lot of money. connell: do you like it? >> it is going to be great. college football, with the bcs ending it has been a miraculous three weeks. especially for auburn.

connell: thank you very much. the stocks and pulled back mode after a couple of days of gains. ben willis is up next at the floor of the new york stock exchange. what do you make of it so far? >> it has been market of stocks rather than the stock market. a little bit of a deigned to the upside move early putting pressure on the future is coming in and even toll brothers. the housing sector has been a very strong sector leading the market, i know you heard from nicole petallides and the expectations people buying those in anticipation of a great spring season. came off with their management. that seems to be what the market is doing, leveling off going into the end of the year. connell: backed in a call at the of the hour. volunteer firefighters taking a

hit. taking a hit from obamacare. threatening the existence of firehouses. liz macdonald will come in to give us a report on it in just a moment. and then you have some winners on the nasdaq as we focus on the market and others. we will be right back on "markets now." every day we're working to be an even better company - and to keep our commitments. and we've made big commitment to america. bp supports nearly 250,000 jobs here. through all of our energy operations, we invest more in the u.s. than any other place in the world. in fact, we've invested over $55 billion here in the last five years - making bp america's largest energy investor. our commitment has never been stronger.

connell: tomorrow's business today. another unintended consequence of health reform this time hitting the nations volunteer firemen. they could have to be counted as workers and subject to obamacare

be it could mean higher local taxes, volunteer firehouses might be shut down as a result of that. this is not something you would think would happen. liz macdonald with the battle line on this. liz: we have been hearing from international fire chief association. volunteer firemen if they are 50 or more of them in a town and they work 30 or more hours per week they had to get health insurance under the new health reform law. a letter sent a couple of months ago to the irs chief basically saying the firefighters are volunteers, they did not expect health benefits. and asking for an exemption. these guys work 12 to 24 hours shifts pus pushing them beyond e 30 hours work week. this is how they are reacting. if the irs classifies volunteer

firefighters and emergency medical personnel often they are volunteers as well. there classified as workers they may be forced to comply with requirements that could force them to curb the activity or even close entirely. there are more reactions coming out for the firemen. the cadillac tax for the paid firemen. three quarters of the country firehouses are staffed by volunteers did 72% are volunteers, let's put it that way. those guys get paid as paid firefighters, they get health insurance. if the health insurance is beyond the certain level under health reform, they have to pay the 40% cadillac tax on health benefits for that is another thing the firefighters are basically asking washington, d.c., to fix and address. so far no reaction on this.

the irs is still debating this behind the scenes.u start hearing about this from firefighters, they are volunteers. has to be a surprise to you, right? >> these guys just want to do their job, they don't wants to come on camera or on the record. they are very worried about it because they're putting their lives on the line, operating as volunteers, they rarely expect health benefits. back to you. connell: an unintended consequence of all of this. new york city telling them to lure companies away. dennis kneale and cheryl casone coming up next hour on "markets now." sarah palin back into the within a reality show. where to find her, also ahead. as a business owner, i'm constantly putting out fires.

so i deserve a small business credit card with amazi rewards. with the spark cascard from capital one, i get 2% cash back on ery purchase, every day. i break my back around here. finally soone's recognizing me with unlimited rewards! meetings start at 11, cindy. [ male announcer get the spark business card from capital one. choose 2% cash back or double miles on every purchase, every d. what's in your wallet? i need your timesheets, lay!

because you can't beat zero heartburn. woo hoo! [ male announcer ] prilosec otc is the number one doctor recommended frequent heartburn medicine for 8 straight years. one pill each morning. 24 hours. zero heartburn.

you a car guy? >> it is my favorite vehicle, my husband and i haven't every generation since we have been able to drive. when i get it at the end and a long day which we all have, being able to drive my car or truck home. cheryl: general motors names new ceo and it is a woman. i am cheryl casone with dennis kneale to take you through the next hour of markets now. shattering the glass ceiling, mary bah become the first woman with a major american automaker. big news in the manufacturing world. to date the date for the vote on sweeping bank regulations known as double rule. we are joined by an all-star panel to discuss the implications for banks and what she means it you hold these stocks. some of the cost out of buying

men's where. they are here to tell us how they are in to revolutionize the historic industry. this and more in the next hour of markets now. i have a question, do you hate shopping? dennis: i hate shopping. gerri: you don't like trying on clothes. i was just curious. most men hate shopping. we will try to fix that later on in the show. dennis: the new gm c l is only 51 years old and spent 33 years at that company. cheryl: never had anything. dennis: top of the hour, stocks every 15 minutes, nicole petallides on the floor of the stock exchange, stocks taking a breather skill. nicole: the dow and s&p hovering near their session lows after yesterday we had the 39record for the s&p closed yesterday but

pulling back a little bit. the dow is down 49 points, a loss of 1/4 of the 1%, sitting at 1802 and nasdaq composite is down, financials you talked about love polk rule, a bright spot on the dow jones industrials, goldman sachs inonu high-end jpmorgan holding on, caterpillar and united healthcare among the better performers on the dow jones industrials, microsoft and coca-cola and procter and gamble to the downside. looking at the vix today with an up arrow so jitters on wall street showing you nervousness and volatility. the third gauge up four% and right now the dollar pulling back a little bit. dennis: be not afraid. thanks very much. cheryl: the fdic the first financial regulators approving the volcker rule, bringing it closer to matching restrictions to banks following the 2008 financial crisis.

peter barnes live with the latest on what is happening with all five agencies despite the weather. >> the government is close because of the snowstorm, all these agencies came in and call themselves to order to has the volcker rule after three years in the making and these titanic battles between government agencies and banks. the rule is coming out over 900 pages, it is part of dodd-frank financial reform named for its biggest advocate, paul volcker. it is supposed to prevent a future financial crisis and taxpayer bailouts. this will prohibit banks from making risky financial bets for their own profit known as proprietary trading. hedge funds and private equity funds. legitimate marketmaking are many types of securities allowing trading on behalf of customers

and allow some hedging activities. this requires ceos to attest to compliance and internal supervision. it would cover banks' $50 billion or more and would have to until 2015 to comply. officials say the rule was designed to be tough but flexible. some consumer advocates call it a good start. >> wall street's lawyers that specialize in loopholes will be going after them as they relate to words like reasonable, primarily designed and areas of market making and risk mitigating. >> some worry the rule will raise costs and be passed on to their customers, some analysts say it could eliminate liquidity in financial markets and less regulated shadow bank into the banking system or to foreign banks, other experts say lawsuits on the rule coming.

cheryl: thank you, for more and noble cruel and what it means for big and small banks for the killings did to it financial regulations studies market and isn't the capital iq equity analyst and chairman of signature bank, scott shay. thanks to all of you for joining us. the broader question here if you go back to 2008 would glass-steagall have something like the volcker rule we are getting now have prevented the 2008 financial crisis. >> paul volcker has said that. might biggest frustration with the volcker rule is it is a massive distraction from fixing the financial system. dennis: you said they needed to reinstate your favorite glass-steagall. you haven't done that. is double ruling of? >> is not enough. the whole approach of the volcker rule, the way that the english tried to do it which is

risky activities, made a lot -- instead of banning them and still with insured deposits that is the core of the problem we have tried to solve and we have that cultural consolidation between the riskier parts of the financial world with the banking business and the reinstatement of glass-steagall would have all. cheryl: a smaller bank like yourself but the bigger bank in particular the concern from the u.s. chamber themselves that these banks will lose business because u.s. companies will go overseas to japanese banks, european banks for financing. do you think that happens? >> there is any risk of that and north of us there is a lot of good strong canadian banks that have u.s. operations and they too can take some of that. it is a risk of to 30% of these

banks's revenues years at some form of risk. dennis: do you think it is too little too late in terms of the rule today or too much too late? >> too much detail without the specificity. we push back, what stopped that is this artificial distinctions that somehow proprietary trading is risky but mortgages and small-business lending isn't risky. commercial banking is risky cell i am sympathetic to the approach of the volcker rule and glass-steagall to limit access to the safety net but the broader discussion should be why do we have a massive 6 the net behind banks in general? incurred as a tremendous risktaking and long-term capital management proves you can blow yourself up trading treasurys and sovereign debt. one of the interesting changes in this new rule is foreign sovereign debt can be proprietary traded too so this doesn't stop many things that

cause problems in the past and encourages banks that load into sovereign debt, any rule the streets greek sovereign debt is risk free. it is a rule that is bound to cause more problems than it fixes. >> the major difference between the big bank in the middle size bank, big banks have counterparties with whom they do business, we have clients creating jobs and buying inventory and moving the economy forward. that is a huge distinction which has been really -- we ought to separate as i said before the parts of the economy that should have some protection. it is in the national interest to do so, from the speculative side. if it goes broke, that is sad and i am sorry for the investors but it doesn't appear the u.s.

economy -- cheryl: the worry about the volcker rule is it will reduce liquidity, it will drive up the costs of credit. you said you are concerned about the earnings but will this drive up the cost of credit in this country? >> there is a good chance it could do that as well. the other thing i would say is the profitability of the large banks will be impaired. we are seeing the return on equity fallen below 10%, and that is the key measure of profits for the u.s. banking collection. it used to be 20%. the evaluation of the u.s. banking system, the largest banks will be constrained by this. dennis: the meltdown happened happened in 2008 and now they will enforce this rule until 2015. doesn't the very fact of the they are going to wait that long

mean we don't need this rule? >> what the next crisis will bring is hard to say but it is fair to say the will or will had nothing to do with the last crisis. and the really biggest problem with dodd-frank or sins of omission that it doesn't bother to try to address the structural problems that got us into this crisis, push back little on something scott said which is it is favoring the financial certain that certain sectors that got us into this. the fact the we have such a backstop, so many mortgage subsidies, not just fannie and freddie but the way we treat bain capital and everything else pushing risk into certain sectors of the economy. it is not the risky stuff gets as in trouble but the stuff that is safe ahead of time and treat its stake but comes back in our faces every time. >> the mortgage discussion is a

long discussion too large for this but i don't think anybody alleges that small and medium-sized business lending will into the crisis. after the crisis, all the large lending was subsidized, mortgage-backed securities were subsidized through the ray of out of bed soup programs that allow the big players to accumulate all sorts of large and the s positions. the commercial paper of the large corporations was subsidized by the fed and blocked by the fed, and the one area with no subsidy was the small and medium-sized business minding area, the creator of 60% of the dogs in this country. cheryl: everyone is expected since the 2008 crisis. dennis: time for one more? i will ask a follow-up, 35 banks affected evenly, some better off than others? >> largest banks will be most affected by this and the smaller

banks, but -- certainly under $50 billion which is most of them have much less effect from this. jpmorgan chase and citigroup, one third of their revenue comes from investment making or marketmaking. dennis: not so much to move out of big banks into little banks. >> no. we think the valuation has come down. cheryl: thank you, in our studios, great discussion, thank you so much. dennis: major tech companies going after the government over spying tactics which is the height of hypocrisy. what is bugging me today and we want to hear from you. cheryl: the latest on the snow storm that is walloping the east coast, forcing most of the federal government shutdown today. as we go to break let's take a look at energy and you still got

oil up $98. we will be right back.

cheryl: a huge rally, yesterday, closing above the green, 15,095, here are the names that are trending, and there is the ticker, more than eight point impact and look at goldman sachs, talking about the volcker rule and proprietary trading, let's be honest here. 16 points, it is 16 points higher but goldman sachs can't get down into the green. let's bring in nicole petallides on the floor of the stock exchange, you are looking at crispy cream, big news, the doughnut maker. >> crispy cream based in north carolina continuing with some expansion plans. let's look at the stock at the same time announcing today it is

going to be opening its first store in taiwan. that will happen this week, december 12th, fears they, it will be the first new store and ten after that in taiwan over the next five years so with a partner abroad, crispy cream has a three month shot. it should be noted that crispy cream had a great year up 100% this year and duncan doughnuts to give you an example of 40% so it is a great year for donuts overall. cheryl: one of my favorite sectors. when it comes to crispy ream, the ceo of the company, going to be is this thursday at noon eastern time, we will talk about expansion, one of the best topics ever. you don't want to miss that interview. dennis: what is bugging me is a

new crusade by tech companies to take the government to task for violating our privacy. google, facebook and other cougar trying to privacy more than anyone in history have the temerity to grandstand about government doing the same. eight tech giant sent an open letter yesterday, calling for new restrictions on snooping, like a bully at school saying leave that kid alone. only i can beat him up. these companies track your every move and store it for years. of the debt and government spooks couldn't hack into. facebook privacy is an oxymoron. it resists new restrictions on its own practices, google knows of research you have ever done with the look that symptoms about all is more the early years of jenna and jameson. eric schmidt said it would embarrass you to have your searches reveals some may be shouldn't be doing them. no respect for privacy at all but government is in the gunsights of the privacy police and the tech guys are happy to point the finger at someone else

a three@dennis kneale. is it hypocritical for tech companies to criticize the government for privacy invasion? cheryl: historic move by one of america's victory automakers, on the management shake-up coming up. dennis: snow fall down the east coast, unless you have to travel some where we are live in the weather center next. here's how the world currencies are faring against the u.s. dollar. hi honey, did you get e toaster cozy?

yep. got all the cozies. [ grandma ] with n fedex one rate, i could ll a box and ship it r one flat rate. so i kn untilt was full.

you'd be crazy not to. is tt nana? [ male announcer ] fedex one rate. simple, flat rate shipping with the reliability of fedex. [ male announcer ] fedex one rate. every day we're working to and to keep our commitments. and we've made a big commitment to america. bp supports nearly 250,000 jobs here. through all of our energy operations, we invest more in the u.s. than any other place in the world. in fact, we've invested over $55 billion here in the last five years - making bp america's largest energy investor. our commitment has never been songer. [ male announcer ] how could switchgrass in argentina, change engineering in dubai, aluminum production in south africa,

and the aerospace industry in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 70% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing.

cheryl: first the midwest and now presidents on the east coast served a big dose of snow. meteorologist janet dean standing by in the weather center. look out the window and it wasn't snowing, and i fought off the hook a. >> got to listen up. come on. it did come but it is tapering off and it wasn't that bad. i am from canada. this is a nothing storm.

it disrupted traffic, a lot of kids are off school, snow day, looking at radar, cloudy skies for d.c. light snow in philadelphia and new york making things so pretty. airport delays unfortunately not so pretty but earlier on we have four hours, 5 hour delays at newark, now down to an hour-and-a-half so we are improving. philadelphia and hour delay, traveling on the northeast, you will be messy but this is a quick moving storm. the other story is the incredible cold air that continues to stick around in the northern plains, these are wind chills, what it feels like, if you are not protected you are outside. windchill advisory's overnight tonight where it is going to feel-35 to-50, crazy cold so people are -- these are actual low temperatures-18 in duluth and-10 in minneapolis.

i want to leave you on a preparing note. we could have another storm this weekend off of the east coast. we are busy in the fox news weather center. cheryl: i will be hanging on your every word. dennis: time to make money with charles payne, telecom. i followed tech a long time. here is the thing. a lot of the hardware, the government or big purchasers, and they make the device that went into these explosive devices and things like that so the last five years of tough on this company. one thing i was focused on was trying to find names the business itself is ready to make a big turnaround, they made a presentation yesterday very impressive. this is on the cusp of turning around. the five years we saw where they

lost an average of 16%, the street looking each year, up 35% on the top line. they got amazing products, and international business. it is not a depressed stock but the company had been depressed with margins and everything. of little more conservative name but one of these is not as volatile as some of the names. dennis: the company is forecasting -- charles: the company would not go that far. it is a good turn around. 50 degrees below it is no joke. cheryl: can't imagine 26 degrees. dennis: we had all the special gear on. dennis: nothing like all little

global warming. cheryl: shattering the glass ceiling, the first woman to head a major american automaker, details coming up on the first quarter of business. dennis: playing venture-capital list to biotech companies, we speak with the man behind the idea next, looking at today's s&p winners and losers.

dennis: new york playing venture capitalists to boston and san francisco luring new biotech. i will speak to the man behind the plan. men's where the taylor aims to save you the hassle of buying

shirts and lasers by mixing the need for a table is the co-founders i here to explain and sarah palin, details of her new reality show coming the. stocks every 15 minutes, let's go to the stock exchange and nicole petallides, you have a couple new highs despite down arrows. >> we pulled back, the s&p, setting the 30 ninth record, let's take a look at some new highs and familiar names we are watching, twitter moved to 52-58. you remember the ipo, $50, for a while going back for some time, sell off another $10, so great news there for the twitter shareholders. watching google at 1,084 and change so great news for google. yahoo! particular early move into the upside, yahoo! a new

high, rbc outperformed $44 price target up from 38 and the investment they had is worth more than 0 regionally thought, $36 billion vs 26.5. blackberry, new low and apple, positive comments today negative comments from analysts back-and-forth. dennis: thanks very cheryl: general motors ceo mary bosh speaking for the first time since they named the first female ceo in automotive history. here she was moments ago. >> i worked at general motors 33 years and always known it is a great company. the many women and general motors are so dedicated and we have the best team on the field. it is an honor to lead this team and continue the momentum of the best cook trucks and crossovers with the highest quality value

for shareholders and stakeholders. cheryl: amanda bar is succeeding dan ackerman, naming her as his successor is the right decision and it was a unanimous decision. jeff flock standing by with more. what did you make of this? >> there are a number of women on the board. i had dinner with dan, he was very excited about her and the attitude she brings and the experience she brings, an electrical engineer who started her career and a long time ago, at pontiac, they did get a car guy but a car girl. she really has the breadth of experience. look at what dan said this morning. said to report the reason he set up his departure was his wife has got cancer and focusing all of that so was not my intention

to end this way and married bar was picked for her talent, not her gender. a number of women on the board, there you go. let's get outside reaction, a lot of people like this choice and saw it coming. nobody knows very bottom better than gene jennings, listen to what she told us earlier. >> she started at general motors, same year, she was a student and been all the way through it. she was a father at pontiac for 30 years and she has been in all the key positions. her persona is like the first -- but perfect older sister, she is smart, kind, really is no nonsense, very midwest, very uaw centric to me. i think the world of her.

>> let me pick through the other winners. the former ceo of commons, the big enginemaker, he is going to be the executive chairman of the board, he was named the top ceo of the last decade. someone from apple, and forget his name. those guys, the ttp five executives, he is a smart guy too. and the former cfo will be the newly created president of gm, the overall president you might remember mark wallace who was the president, taking mary bar's old job in development, that is where his interest, his strength lie. big news, the street likes it.

they're coming faster than we thought. this is a positive. women, new faces. cheryl: this has nothing to do with treasury announcements. >> apparently this all came together at the last time. i don't know when the diagnosis -- he did want to get past that hurdle. i don't think it was purely plant this way. gerri: that is a shame. our best to him. thank you very much. dennis: hoping to lure biotech firms, new york city is getting in the venture capital business. city government should leave that to the pros? joining me to explain, connell kimmel, president of the economic development corporation. thanks for being with us. silicon valley is thriving in high tech in new york and those

companies located here without any kind of city venture-capital fund at all. y. to go after biotech do you need to do this? >> we made a lot of investments in the digital technology space. i take exception -- we did not do venture capital. what was different was in both cases we took a step back and looked at what was necessary. we felt the city had a lot of factors, we going to making industry's successful and we decided what we needed was engineers. in the case of bioscience we needed early stage funding and that was happening on its own. dennis: you earn high returns and city member you put in the venture capital fund that you form with venture-capital partner is. with higher returns than those same millions of dollars in a venture capital funds that already exists? >> it is not about returns but making sure companies in new

york city, partner in with academic medical centers, partner in with the pharmaceutical companies in the city like eli lilly, ge ventures, having a partnership and leveraging their money to the city, focused on this to do the investing. dennis: venture capital is not about returns, venture-capital is all about the returns but you are not risking a lot. and leverage that to $100 million. >> we are working with eli lilly. looking at 50 and venture-capital community to look for 50. for the funding initiative as opposed to the city, setting up a venture-capital firm. at the end is not about returns for the city but making sure companies grow. dennis: you will lose every dime if you keep saying it is not

about the returns because it should be about the returns. rather isn't setting up a new venture capital fund will not invest in tax incentives to make it easier to set up? >> we thought about what we need to do. think about what the space needed. it is not just about quantitative returns the qualitative returns and is shot in the arm to get things going. dennis: sometimes on capitalism, thanks for being with us. dennis: time for west coast minute. marijuana business owners are looking for cow resistant bags to sell the recently -- everything it sold has to be in a bag. the problem is business owners say there are not enough bags

being manufactured throughout the country. arizona could become the first u.s. state to regulate and prevent the nsa from spying on residents. state senator proposed a lot to prevent law-enforcement from getting material support for the nsa and also make evidence obtained in these activities inadmissible in court cases. the san diego mayor who has been sentenced to three months in three years probation, for sexual harassment. he resigned after he was accused of placing a woman in a head law, kissing another and grabbing another. 20 women have come forward. that is your west coast minute. we had to update you. men's where made easy. online retailer looking to take the hassle out of bank shirts and blazers. the co-founders are next. dennis: sarah palin back in the spotlight with the launch of her new reality shows set for next

year. details in the media minute. [ male announcer ] here's a question for you: where does the united states get most of its energy? is it africa? the middle east? canada? or the u.s.? the answer is... the u.s. ♪ most of amica's energy comes from right here at home. takehe energy quiz. energy lives here.

[ engine revs ] ♪ ♪ [ male announcer ] the mercedes-benz winter event s back, with the perfe vehicle that's just right for you, no matter which list you're on [ santa ] ho, ho, ho, ho! [ male announcer ] get the all-new 2014 cla250 starting at just $29,900. tracy: i am tracy byrnes. the number of u.s. jobs opening in october four million, that is a 5-year high. the labor department says a number of people quitting their jobs reached a five year high. both figures point kill more

dynamic stock market. now to keep global headquarters in boca raton, fla. after emerging with a lawyer--and one.5 million, the company considered moving to the former quotation in illinois. but not so much. small business sentiment increased in november. the national federation of independent business optimism index rose to 92.5 up from october's meeting of $96. they anticipate increased taxes, regulations and health care costs ahead. that is the latest on the fox business network giving you the power to prosper. ts. watch tha tdd# 1-800-345-2550 yolook for what's next. tdd# 1-800-345-2550 atchwab, we can help turn inspiration intaction tdd# 1-800-345-2550 boost your trading iq with t help of d# 1-800-345-2550 our live online workshops tdd# 1-800-345-2550 like identifying market trends. tdd# 1-800-345-2550 now, earn 300 commission-free online trades. call 1-888-628-7118 or go to schwab.com/trading to learn how.

tdd#-800-345-2550 sharpen your instincts with market insight froschwab tdd# 1-800-345-2550 experts like liz ann sonders and randy frederick. tdd# 1-800-345-2550 get support and ta through your ideas with our tdd#-800-345550 trading spialists. tdd# 1-8-345-2550 all with no trade minimum. and only $8.95 a trade. tdd# 1-800-345-2550 open an account anrn 300 commission-fe online trades. call 1-888-628-7118 to learn more. so you can take charge of your tradg. cheryl: a managing you are a busy guy you hate shopping for clothing but you try a bunch of shirts, sport coats, a lot of money and actors that, you get everything tailored. the next guest trying to take the pain from shopping.

online retailer co-founders, thank you for being here. you graduate london school of economics, and you got in the clothing business. >> i enjoyed solving problems and that is what we are doing figuring out to get off of the rack avoiding haven't -- that sort of thing. gerri: patrick works on staff, and we are closing in a second. patrick not thrilled about this but talking about the idea behind the business, men try on shirts, you are saying the problems are a challenge so you changed the sizing by shirts, explain how that works. >> if you go to a store now based on small, medium or large, shows you nothing about the torso and what we did is focus on the torso and came up with 12

body types to find a better fit. cheryl: you are going to quit on me after today. what to would be the challenge for somebody like patrick. a young fit? >> in our lexicon he is an average athletic with average height and athletic build. cheryl: we brought his jackets here so go ahead and give patrick a jacket and show what you would do and how would he orders this? we are trying a jacket on but how would he instruct somebody watching now to order the jacket? >> if you go online, it is a way to figure out what your size is. either you have? into small, medium or large or 15-35, for as you just place yourself in a body bag and it is one of 12 size. gerri: does this fit? you feel good about this? the sleeves are too short but you could address that on the

web? >> typically there too short but they are pretty good. >> these are perfect. gerri: shows you what i know. i didn't realize there was such a niche business for men's clothing. how big a problem is this? >> we are approaching it at different way than other retailers have in the past so rather than thinking about traditional retail brick and mortar, we are going on line first, we pair that with great customer service and we essentially help guys get to fit as quickly as possible. cheryl: what does the jacket costs? >> $245. should make is that a good price? >> yes. cheryl: just jackets and shirts only? >> we started in shirts and expanded because we understand torso. dress shirts are still harbor and butter product. cheryl: interesting business and you have been in business.

certainly is very different. thanks for being here. appreciate it. nice to meet you. we will order you one as well. dennis: i don't think there is one to fit my belly. time for stocks, let's get to the floor of the stock exchange, mark newtoo is chief technical analyst at gray wolf partner is. caper talk setting center stage. you guys are no longer a fearful of it. >> no longer fearful. markets are starting, consolidated, everyone is talking about the december santa claus rally but we are the same level as mid november. look at the levels in the 50s the s&p was 79 g-8 and we are ready dino tussaud really pretty sideways. despite moves like last friday that teaches everyone you can't be short, at the same time, equities, tough time making progress so everyone is linking do we take your next week, there will be some discussion of it. nobody has the answer.

everyone is thinking it could be march or january. the data is slowly but surely getting better but obviously there are some holes in the data when you look at industry communication and lack of consumer demand. for the time being you have to hope it continues higher. in december it does average 1.8%, 83% of the time. dennis: the january affect. i wish they would taper and get it over with. thanks for being with us. cheryl: on the commodity side, wheat is falling to a three month will. the production continues to soar according to monthly global crop data that we get, probably christmas in the trading pits of the cme. phil flynn has his take on the numbers. >> if not for this week this market would be cooking. if you look at the numbers, as they lowered supplies and raised demand in both categories so corn and beans, beans particular lead. , the market suspected that because we saw everybody from

russia to china buying beans the last couple weeks but they drew down the inventory and no word the total stock. what this means for the market is beans could start to take off. if they stabilize, beans are going to look very bullish and the only thing that may be holding the beans back is if they raised the global stock. if not for that beans would be off to the races. they could take off and orange juice lovers won't like this. orange juice on fire up 165 so the big mover up, week down. cheryl: california freeze the fact, we are seeing it in the numbers. so thanks. dennis: in your media minute sarah palin's reality check. for u.s. the candidate will get a reality show amazing america with sarah palin set to premiere on a sportsman channel next april. sarah palin is a fox news

contributor and last week martin but she resigned from ms nbc for saying vile things about her and in her previous stab at reality she was filmed clubbing a -- the show was canceled after one season. as time warner prepares to shed the struggling magazine business more layoffs reportedly lie ahead. spinoff said to be still on track for mid 2014 and third quarter, revenue fell 3% to $813 million. life after the wall street journal, the journal owned website all things the reportedly in a deal with comcast, nbc universal that will form a similar business under a new in the man and all things be successful because of the journal or pushing. gerri: they are doing television? dennis: they do television. ms nbc owns it. cheryl: walt mossburg of frequent guest on this program.

a lot coming up obviously. dennis: google and face book being hypocritical by criticizing the government over privacy. your response to what is bugging me coming up. cheryl: some of the winning name the nasdaq. we will be right back.

dennis: tech companies track your every move and bash the government for privacy violations. nsa and other government agencies bound by a fourth amendment, we didn't opt out of fourth amendment, we did opt in to face book, google. peter says i entered into a

voluntary agreement with google, facebook, i can terminate that agreement at any time and mike wright cited the intrusions in my private life. i don't own a cellphone. i need the computer to say hey to you and cheryl. cheryl: spreading the holiday cheer apple's 12 days of gift apps is available to the u.s. the apps release today offers users free song, movie, book or air when everyday december 26th to january 6th, uses won't know until that day what the gift is going to be which should be exciting as a giveaway, the apps has a countdown until the first gift arrives for you. from in turn to ceo, general motors, lifelong employee mary bosh, auto industry veterans, joining adam and lori on the unbelievable rise to the top. dennis: the those on the volcker rule, banking regulation

expected to be adopted but should it be? we will hear from the man who helped write it, why he thinks it isn't workable. that is next. ya know, with new fedex one rate

you can fill that box and pay one flat rate. i didn't know the coal thing was real. it's very real... david rivera. rivera, david. [ male announcer ] fedex one rate. simple, flat rate shipping with the reliability of fedex. [ male announcer ] fedex one rate. every day we're working to and to keep our commitments. and we've made a big commitment to america. bp supports nearly 250,000 jobs here. through all of our energy operations, we invest mo in the u.s. than any other place in the world. in fact, we've invested over $55 billion here in the last five years - making bp america's largest energy investor. our commitment has never been stronger.

try align. it's the number one ge recommended probiotic that helps maintain digestive balance.

♪ stay in the groove with align. adam: welcome back to "markets now." lori: no more crabby cars. it is the directive. what you need to know about the new ceo of general motors started out as an intern now the first woman to ever run an automaker, let alone the biggest one in the world. adam: not workable. the author on the volcker rule why he is not a fan of the banking reform. the exclusive interview. lori: and the retail brain to launch brands like steve wonder. chris burch joins us live in the studio with his holiday shopping outlook for our special "your wish list" series.

adam: the blast of snow up sitting commuters in the northeast. ahead, the latest forecast and travel delays. lori: let's start with your market. stocks are edging lower from the new york stock exchange and nicole petallides. we are coming back from the lows of the day, however. nicole: we are down 24 points at the moment. we had broken down below 16,000 mark, right now we are down two tenths of 1% on the s&p 500. but this after a record date again yesterday. we had our 39th record close for the s&p 500. we have a mixed bag as far as what we are overseeing for the stock market. up right now at 1261. of $46.30 at the moment. this move up 2 and a quarter percent.